BMW E46 M3 - Legend Eternal
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read
home
BIMMERPOST Universal Forums General Automotive (non-BMW) Talk + Photos/Videos

Post Reply
 
Thread Tools Search this Thread
      10-03-2024, 07:45 PM   #23
pbonsalb
Lieutenant General
5789
Rep
11,321
Posts

Drives: 18 F90 M5, 99 E36 M3 Turbo
Join Date: Feb 2011
Location: New England

iTrader: (4)

Sure, why not as long as work isn’t killing you.
Appreciate 0
      10-03-2024, 07:47 PM   #24
TallGibbs
Second Lieutenant
United_States
407
Rep
295
Posts

Drives: 2024 M2 (coming Sep '24)
Join Date: Sep 2023
Location: NJ-USA

iTrader: (0)

Quote:
Originally Posted by 412g80 View Post
May be I am one of the goofballs

I never want to retire. Boredom would kill me.
I have similar thoughts on boredome, however I frame it more like "in retirement, I get to finally pursue all of my hobbies." So, it's not a matter of being bored, its that I now have financial freedom to go and do all the things I really enjoy 24 hours per day.

The key to me is: have hobbies IN ADDITION to doing work that you love. Win-Win situation there if you can figure that out (and then report back to me how you figured that out).
__________________
Car History (oldest to newest): Accord, 318i, 330i, Prius, Prius, M2
Appreciate 0
      10-03-2024, 07:52 PM   #25
dreamingat30fps
Colonel
United_States
5972
Rep
2,028
Posts

Drives: Miata, Cayenne, Model 3, F350
Join Date: Jan 2010
Location: South Florida & NC

iTrader: (1)

My gut says if you make enough to buy the car in 4 months then you should probably have enough in retirement where having $150k or whatever it goes for less would not make much of a difference and if it did I would be concerned you don’t have enough cushion in your savings.

However for a simple answer… sure I would. I’m self employed and I don’t hate what I do so doing it for 4 more months would not be an issue.
Appreciate 0
      10-03-2024, 09:06 PM   #26
Mavus
Colonel
Mavus's Avatar
2299
Rep
2,904
Posts

Drives: E90 335i, F80 zcp
Join Date: Sep 2011
Location: PA

iTrader: (9)

easy yes as long as you are not miserable doing it and your health is not impacted

Last edited by Mavus; 10-03-2024 at 09:07 PM..
Appreciate 0
      10-03-2024, 09:06 PM   #27
Honda
Lieutenant Colonel
Honda's Avatar
373
Rep
1,666
Posts

Drives: BMW
Join Date: Feb 2014
Location: US

iTrader: (25)

No, I wouldn't delay my retirement. I would get something I can afford right now rather than waiting 6 months and it may or may not happen
Appreciate 0
      10-03-2024, 09:16 PM   #28
HFW003
Brigadier General
HFW003's Avatar
Australia
6252
Rep
3,279
Posts

Drives: 2024 M340i xdrive
Join Date: Apr 2013
Location: Newcastle, Australia

iTrader: (0)

Garage List
As someone who is very close (a few years) to retiring I personally wouldn't do it and I have a great job which I absolutely love!

We all have different dream cars and things we want to do when we retire.

My Wife and I for example are going to go and live in Europe for a few years and when we get back I am going to by my "dream" cars. Something like an 2002, Fiat 124S or a TR4/6 rather than the latest and greatest.

Do what works for you!
Appreciate 0
      10-04-2024, 06:37 AM   #29
chassis
Colonel
chassis's Avatar
8128
Rep
2,512
Posts

Drives: 9Y0 Cayenne S
Join Date: Mar 2019
Location: Einbahnstraße

iTrader: (0)

Garage List
Quote:
Originally Posted by mjj View Post
Thinking about purchasing my dream car next spring. It is pricey and would probably require me to delay my retirement an additional 4 months or so to pay for it. I am in decent health.

Just curious if anyone has contemplated this question?

What percentage of your net worth does the price+taxes of the car represent?

Net worth = all assets (including residential and commercial RE) minus all liabilities (including mortgage on RE, if any)
Appreciate 0
      10-04-2024, 09:20 AM   #30
pbonsalb
Lieutenant General
5789
Rep
11,321
Posts

Drives: 18 F90 M5, 99 E36 M3 Turbo
Join Date: Feb 2011
Location: New England

iTrader: (4)

Quote:
Originally Posted by chassis View Post
What percentage of your net worth does the price+taxes of the car represent?

Net worth = all assets (including residential and commercial RE) minus all liabilities (including mortgage on RE, if any)
How boring to apply an accountant or financial advisor's one-size-fits-all formula to apply to one's dream car purchase. The OP appears to me to be way past Financial Planning 101.
Appreciate 2
Humdizzle6526.00
SYT_Shadow11928.50
      10-04-2024, 09:38 AM   #31
mjj
First Lieutenant
681
Rep
361
Posts

Drives: 2025 M4 Comp Verde BR
Join Date: Sep 2014
Location: Home of #22

iTrader: (0)

As the OP, i worded my original post poorly. I turned this into a financial/affordibility question more than the true underlying intent.

Which was; is it foolish/selfish to spend significant money on a 4th vehicle as I am winding down my career?

I have a fully funded retirement, own multiple properties and have zero debt. I love my job and my CEO wants me to stay on and retire with him at the same time. I just purchased a 25 M4 Comp a few months ago. Love it and plan to keep it for the foreseeable future. I just always wanted a Porsche Spyder but they never had enough power to justify a narrow use vehicle…until the RS version came along with the GT3 engine. Reports are that the boxster is going to be all electric by 26 so I have the scarcity and time is running out influence.

I was just interested if others had ever contemplated this question and rationally walked through the thought process. To be honest, what I really wanted was “validation” from others to say go ahead and purchase your dream car.

Based on the feedback, that is what I plan to do. Thanks to all for the feedback.
Appreciate 2
DrVenture1370.00
Mavus2298.50
      10-04-2024, 10:28 AM   #32
chassis
Colonel
chassis's Avatar
8128
Rep
2,512
Posts

Drives: 9Y0 Cayenne S
Join Date: Mar 2019
Location: Einbahnstraße

iTrader: (0)

Garage List
So delaying retirement was never the issue but rather the courage to make a discretionary purchase. Is this in the ballpark?
Appreciate 1
DrVenture1370.00
      10-04-2024, 11:48 AM   #33
Efthreeoh
General
United_States
19267
Rep
19,752
Posts

Drives: The E90 + Z4 Coupe & Z3 R'ster
Join Date: May 2012
Location: Virginia

iTrader: (0)

Retire now before the shit hits the fan and the roads you want to drive on turn to crap. The M3 is good enough. Enjoy it while you can.
Appreciate 0
      10-04-2024, 01:10 PM   #34
Diesel power
First Lieutenant
383
Rep
352
Posts

Drives: 24 Q8 E-Tron 24 M3 CX
Join Date: Aug 2014
Location: LI, NY

iTrader: (0)

I'm halfway to retirement and am personally not the kind of person to sit around. I have also seen too many mentors postpone retirement out of fear of boredom or people retire only to realize that having a little more money put away or something to get out of the bed in the morning for would feel better.
If you're in the position to retire comfortably in good health and have your dream car (which is a hobby in itself), then a few more months of work seems like a no brainer, after 30 or 4 years what's another few months?
Personally, my goal is to retire well, not young, and in between I'm trying to enjoy myself as much as possible while achieving goal 1.
Appreciate 1
DrVenture1370.00
      10-04-2024, 01:27 PM   #35
DanG
Major General
DanG's Avatar
United_States
11501
Rep
7,162
Posts

Drives: 2018 M2 AW DCT
Join Date: Aug 2012
Location: Seattle, WA

iTrader: (1)

Garage List
2018 BMW M2  [8.01]
Sounds like op has plenty of money. Retire now and spend the money on your dream car. Life is too short not to enjoyed every day. Heck I retired at 58.
__________________
BMWCCA member Puget Sound Chapter
Appreciate 0
      10-04-2024, 02:01 PM   #36
BlkGS
Colonel
BlkGS's Avatar
3451
Rep
2,727
Posts

Drives: BMW X5 M50i
Join Date: Dec 2023
Location: FL

iTrader: (0)

Garage List
Quote:
Originally Posted by mjj View Post
As the OP, i worded my original post poorly. I turned this into a financial/affordibility question more than the true underlying intent.

Which was; is it foolish/selfish to spend significant money on a 4th vehicle as I am winding down my career?

I have a fully funded retirement, own multiple properties and have zero debt. I love my job and my CEO wants me to stay on and retire with him at the same time. I just purchased a 25 M4 Comp a few months ago. Love it and plan to keep it for the foreseeable future. I just always wanted a Porsche Spyder but they never had enough power to justify a narrow use vehicle…until the RS version came along with the GT3 engine. Reports are that the boxster is going to be all electric by 26 so I have the scarcity and time is running out influence.

I was just interested if others had ever contemplated this question and rationally walked through the thought process. To be honest, what I really wanted was “validation” from others to say go ahead and purchase your dream car.

Based on the feedback, that is what I plan to do. Thanks to all for the feedback.
The bigger question is, can you even get one? RS Porsches are notoriously artificially scarce, where money aside, you often times can't find a dealer to even sell you one short of bribing them.
Appreciate 0
      10-04-2024, 02:52 PM   #37
Chihuahua
Brigadier General
Chihuahua's Avatar
4485
Rep
3,368
Posts

Drives: E30 329iS, E65 Alpina B7
Join Date: May 2012
Location: TBD

iTrader: (0)

only 4 months? sure why not. I say go for it.
Appreciate 0
      10-04-2024, 02:56 PM   #38
avantegardestyle
Captain
326
Rep
941
Posts

Drives: E90 ///M3 SG
Join Date: Nov 2014
Location: East Side

iTrader: (0)

Quote:
Originally Posted by 412g80 View Post
May be I am one of the goofballs

I never want to retire. Boredom would kill me.


this............
Appreciate 0
      10-04-2024, 03:22 PM   #39
XutvJet
Major General
XutvJet's Avatar
6021
Rep
5,556
Posts

Drives: 2011 Cayman Base, 2018 M2
Join Date: Mar 2016
Location: Kansas City

iTrader: (-1)

One of the biggest regrets people have at or near the time of their death is working too hard/not making enough time for themselves and postponing fun.

I envy those that love their jobs. I'm certainly not one of those. I could walk away right now from my job and not shed one tear or have any regrets. It's not that I hate it or the people I work with. My job is just a means to make money to support my family and the things we want to do. My job and "work" does not define the person I am. I'm done managing people, dealing with needy clients, emails, calls, meetings, administrative BS, office drama, etc.
__________________
The forest was shrinking, but the Trees kept voting for the Axe, for the Axe was clever and convinced the Trees that because his handle was made of wood, he was one of them.
Appreciate 0
      10-04-2024, 03:29 PM   #40
Alfisti
Brigadier General
6973
Rep
3,296
Posts

Drives: 2008 Saab 9-3 Combi
Join Date: Nov 2014
Location: Toronto, Canada

iTrader: (0)

I said this in the Porsche Experience thread and I think it applies here. OP the thread I reference in this comment may make you feel better.
.................................................. .................................................. ........

It's tricky. I am usually quite conservative with money and a planner etc but I am nearly 50, who knows how long you have left? I bought a 15 yr old 911 as a fairweather car, it was an absurd purchase really, total of 80K CDn which is mad money for a car. However I continue to DD a beater I have had for 14 years and owes me nothing and if shit hits the fan a 911 is a liquid asset and can be sold for very near what I paid for it. You can see me tie myself in knots here https://e84.xbimmers.com/forums/show....php?t=1768413

Not being a sniper but you have a well loaded new X5 in your profile, that's gotta be what, 70 grand? You could in theory drive a 10 year old CRV and weekend a 911 for the same money.

I hear you, 100pc, but I just felt it was now or never and you don't know what can happen to you as you get past 40.
Appreciate 0
      10-04-2024, 03:30 PM   #41
Alfisti
Brigadier General
6973
Rep
3,296
Posts

Drives: 2008 Saab 9-3 Combi
Join Date: Nov 2014
Location: Toronto, Canada

iTrader: (0)

Quote:
Originally Posted by XutvJet View Post
One of the biggest regrets people have at or near the time of their death is working too hard/not making enough time for themselves and postponing fun.

I envy those that love their jobs. I'm certainly not one of those. I could walk away right now from my job and not shed one tear or have any regrets. It's not that I hate it or the people I work with. My job is just a means to make money to support my family and the things we want to do. My job and "work" does not define the person I am. I'm done managing people, dealing with needy clients, emails, calls, meetings, administrative BS, office drama, etc.
Fuckin eh! I could retire today and be busy the rest of my life, never a dull moment.
Appreciate 0
      10-04-2024, 04:30 PM   #42
dgoldenz
Lieutenant Colonel
2123
Rep
1,893
Posts

Drives: Vanquish, FF, 392 Wrangler
Join Date: Apr 2010
Location: Las Vegas

iTrader: (1)

Do you own a house? Is this a car that won’t depreciate much? If so, get a HELOC and use it to buy the car, pay the interest each month, sell the car when done. Minimal outlay, just interest expense. You can probably find 6% promo rates for 6-12 months. If you have enough savings to retire you probably have enough to pay a few hundred a month interest on a loan.
Appreciate 0
      10-04-2024, 04:48 PM   #43
tturedraider
Major General
tturedraider's Avatar
United_States
5720
Rep
6,625
Posts

Drives: 2018 340i M Sport
Join Date: Apr 2006
Location: Chicago, Edgewater (via Texas & Tennessee)

iTrader: (0)

Garage List
Absolutely!!!
__________________
https://youtu.be/-ay-8p2p29w
www.bmwcca.org
member #388003 - Use me as a referral
& you could win a one day ///M Driving School!!

___________________________________________
Appreciate 0
      10-04-2024, 06:43 PM   #44
mjj
First Lieutenant
681
Rep
361
Posts

Drives: 2025 M4 Comp Verde BR
Join Date: Sep 2014
Location: Home of #22

iTrader: (0)

Quote:
Originally Posted by BlkGS View Post
The bigger question is, can you even get one? RS Porsches are notoriously artificially scarce, where money aside, you often times can't find a dealer to even sell you one short of bribing them.
New, They are available with a big ADM. Auto brokers can get you an allocation.

There are several used for over mSRP with less than 100 miles. It comes down to if you are willing to pay well over MSRP.
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 02:11 AM.




e46m3
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST